Colombia holds talks with IMF on securing financing - sources
Sources say discussions have focused on alternative financing at more favorable rates amid a wide fiscal deficit.
By Nelson Bocanegra, Carlos Vargas and Andrea Shalal BOGOTA, Sept 28 (Reuters) — The Colombian government has held a series of technical advance discussions with officials from the International Monetary Fund (IMF) over the past several weeks, particularly about securing financing, in an effort to reach a potential agreement that could help restore order to the South American country's finances, three sources with knowledge of the matter told Reuters on Monday. Colombian President Abelardo De La Espriella said late on Sunday that he had instructed his economic team to hold talks with the IMF to seek a way out of the fiscal crisis.
The sources, who requested anonymity because the discussions are private, said the talks have focused on securing alternative financing at more favorable rates, as the country has increased its domestic and external borrowing targets amid a wide fiscal deficit expected this year and next. com)